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Dec 27, 2012
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senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence falling to the lowest level since august. >>> the storm that moved across the country pushing northeast through
senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is...
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Dec 27, 2012
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senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal from speaker john boehner last week, and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. >> frank lund says americans are fed up with gridlock in washington. >> there is no compromise, and i think that's going to grow as a concern among the public as we move into 2013. >> even starbucks is urging both sides to compromise. its employees are now writing "come together" on coffee cups in all washington, d.c., area stores. now, if congress does not act, experts believe the economy will
senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal...
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Dec 27, 2012
12/12
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senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> reporter: republican pollster frank lund says americans are fed up with gridlock in washington. >> there is no compromise and i think that's going to grow as a concern among the public into 2013. >> reporter: even starbucks is urging both sides to compromise. its employees are writing "come together" on coffee cups in d.c. tara mergener cbs 5.
senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good...
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Dec 27, 2012
12/12
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chip reid is at the capitol. good morning. >> reporter: good morning. the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come toget
chip reid is at the capitol. good morning. >> reporter: good morning. the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to...
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Dec 28, 2012
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it will take some doing for boehner and reid to get along. it was only yesterday on the senate floor that harry reid called john boehner a dictator. in the past these meetings haven't produced much progress. the goal appears to be to shield most americans from automatic tax increases due to eat into their paychecks starting next week in the form of federal income tax withholding. the president has agreed to raisin come taxes on americans over $400,000. also an effort to extend jobless benefits for america's out of work for six months or more. these are microscopic goals but might be all that the political system with accomplish. >> major, do we have any reason to believe that this time it is different? >> certainly because the deadline is real the house is coming back in session on sunday. everyone is going to be here either to preside over america going over the fiscal cliff and all of us watching it together orr last minute small deal that averts it for a while and leaves more negotiations for the future. >> major garrett thank you very muc
it will take some doing for boehner and reid to get along. it was only yesterday on the senate floor that harry reid called john boehner a dictator. in the past these meetings haven't produced much progress. the goal appears to be to shield most americans from automatic tax increases due to eat into their paychecks starting next week in the form of federal income tax withholding. the president has agreed to raisin come taxes on americans over $400,000. also an effort to extend jobless benefits...
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Dec 25, 2012
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tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some christmas vacations. >> i'm really upset. at this point, i don't know what can we do now? just wait. we've been here since 7:30 in the morning. my appointment was at 9. >> reporter: stranded an christmas eve. it was the same story for dozens who were supposed to pick up pass ports today. some had confirmation numbers. >> extremely frustrating and disappointing that i'm not going to be able to see them, not for my wife's birthday or my daughter for christmas. >> reporter: the passport agency was supposed to be open today, but in a last-minute decision on friday, the president declared christmas eve a federal hold. federal workers had complained that he should show some holiday cheer since they had not had a sal
tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some christmas vacations. >> i'm really upset. at this point, i don't know what can we do now? just...